Reto Wyss
COGNEXAbout Reto Wyss
Reto Wyss is Vice President, Vision Engineering at Cognex, leading AI R&D and vision tools engineering. He joined Cognex in 2017 via the acquisition of ViDi Systems SA, which he co‑founded and which pioneered deep learning for factory automation. He holds an M.S. in Physics, a PhD in Computational Neuroscience, and an MBA from ETH/University of Zürich. His team developed “Edge Learning” and rolled out AI-based vision tools across major product lines to simplify and expand machine vision adoption .
Cognex’s recent operating context shows improving fundamentals: Q3 2025 revenue +18% YoY to $277M, adjusted operating margin 23.2% (+780 bps YoY), and adjusted EBITDA +67% YoY to $69M, with strong cash generation and no debt, underscoring the strategic importance of AI-enabled products Mr. Wyss oversees (press release 2025-10-29).
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Cognex | Vice President, Vision Engineering (AI Technology) | 2021–present | Leads AI R&D and Vision Tools; advanced “Edge Learning” and integrated AI tools across product lines |
| Cognex | Senior Director, AI Technology | 2018–2021 | Scaled AI technology development and deployment |
| Cognex | Director, Software Engineering | 2017–2018 | Led software engineering post-acquisition of ViDi Systems |
| ViDi Systems SA | Co‑Founder & CTO | 2012–2017 | Pioneered deep learning-based visual inspection; company acquired by Cognex in 2017 |
| CSEM (Switzerland) | Senior R&D Engineer | 2006–2012 | AI/computer vision R&D in sensors and imaging |
| California Institute of Technology | Postdoctoral Fellow | 2004–2005 | Computational neuroscience research |
External Roles
- No public company directorships or external board roles disclosed on Cognex’s senior management page for Mr. Wyss .
Fixed Compensation
- Mr. Wyss is not listed as a Named Executive Officer (NEO) in the 2025 DEF 14A; specific salary and bonus amounts for him are not disclosed. Cognex’s philosophy targets low base salaries (15th–25th percentile) with greater emphasis on at-risk pay for executive officers generally .
- Company-wide executive program parameters (apply to executive officers broadly): base salary positioned near/below 25th percentile; annual bonus targets around median; equity awards targeted 65th–75th percentile of peers .
Performance Compensation
Annual Bonus Program (company-wide design used for executive officers)
| Element | Details |
|---|---|
| Company financial metric | Adjusted EBITDA percentage vs. target (2024 target 19.6%; minimum 12.7%) |
| Individual goals | 80% objective / 20% subjective for NEOs; CEO assessed by Chair and Committee |
| Payout mechanics | Bonus = Target Bonus × Corporate achievement × Individual achievement; capped by “Pmax” by level |
| 2024 corporate result | Adjusted EBITDA % = 17.1% ⇒ 64% of target on corporate factor for executives |
Note: The 2024 payout example for NEOs shows corporate achievement at 64% of target; individual achievements varied by executive. Mr. Wyss’s individual payout is not disclosed as he is not an NEO .
Equity Awards (design and vesting norms)
| Award Type | Typical Vesting | Notes |
|---|---|---|
| Stock Options | 5 annual installments (20% per year) | Exercise price at grant close; long-dated expiries (10 years) |
| RSUs | 3-year schedule (20%/30%/50%) | Broadly used across executives |
| PRSUs (introduced more broadly in 2025) | 3-year measurement; service condition plus financial performance metric; 0–120% shares earned per 10-Q grants in Q1’25 | CEO PRSUs are TSR-based vs. S&P Composite 1500 EEIC index (0–150% with negative TSR cap at 100%) . In 2025, Committee granted PRSUs to executive officers tied to multi‑year financial targets . |
10b5‑1 Trading Plans and Selling Pressure Indicators
- Q3 2025 10‑Q disclosed adoption of 10b5‑1 plans by two officers (MacDonald and Gerst); Mr. Wyss was not listed, implying no new plan disclosed that quarter .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (shares) | Not disclosed for Mr. Wyss (not listed in DEF 14A beneficial ownership table limited to directors and executive officers named therein) . |
| Stock ownership guidelines | 2× salary for executive officers (5‑year compliance window) . |
| Hedging/derivatives | Prohibited for directors and executive officers . |
| Pledging | Prohibited without Compensation Committee approval . |
| Clawback policy | Adopted Aug 2023; requires recovery of incentive comp upon an accounting restatement (three-year lookback) . |
| Unrecognized equity comp (company-wide) | $59.6M unrecognized stock-based comp expense, W.A. period 1.7 years as of 9/28/2025—indicates a pipeline of vesting events that can create periodic selling supply . |
Employment Terms
| Term | Detail |
|---|---|
| Employment start at Cognex | 2017 via acquisition of ViDi Systems SA |
| Current role | Vice President, Vision Engineering (AI Technology) |
| Prior roles at Cognex | Director, Software Engineering (2017–2018); Senior Director, AI Technology (2018–2021) |
| Non‑compete / severance / CoC | No individual agreement disclosed for Mr. Wyss. Company practice for executive officers generally: many time-based options/RSUs feature double‑trigger acceleration (CoC + qualifying termination); CEO PRSUs vest on CoC per TSR-based formula . |
Performance & Track Record
- Strategic contributions: Led Cognex’s AI technology roadmap (Edge Learning), embedding AI vision tools across product lines to streamline deployment and broaden addressable use cases .
- Company operating performance context: Q3 2025 revenue +18% YoY to $277M; adjusted operating margin 23.2%; adjusted EBITDA +67% YoY; strong cash generation and no debt—all positive backdrop for AI-driven execution .
Compensation Structure Analysis
- Shift toward performance equity: In 2025, Committee introduced PRSUs for executive officers tied to multi‑year financial metrics, increasing at‑risk, performance‑contingent pay beyond options/RSUs .
- Mix versus peers: Philosophy anchors base salary low (15th–25th percentile) and emphasizes equity (65th–75th percentile), aligning upside to multi‑year value creation .
- Bonus metric tightening: 2024 moved to adjusted EBITDA percentage (formerly GAAP operating margin), enhancing consistency with external disclosures and limiting manipulation risk .
- Governance: Clawback, hedging/pledging restrictions, and ownership guidelines strengthen alignment and mitigate risk-taking .
Risk Indicators & Red Flags
- Equity award modifications/repricing: None disclosed for 2024/2025; 2022 CEO PRSUs paid 0% based on TSR outcome, evidencing rigor in performance equity .
- 10b5‑1 plans: No new plan disclosed for Mr. Wyss in Q3 2025; other officers adopted plans (neutral to modest selling pressure risk at the company level) .
- Related party transactions: None requiring disclosure since start of 2024 .
- Say‑on‑pay sentiment: 2024 approval ~65%, with shareholder feedback prompting more performance‑based equity and clearer bonus disclosure—constructive but not without scrutiny .
Investment Implications
- Alignment: Mr. Wyss’s remit (AI R&D and vision tools) is central to Cognex’s stated strategic priority to lead AI in industrial machine vision, tightly linked to product differentiation and margin expansion potential .
- Incentives: Company-wide structures (adjusted EBITDA bonus, multi‑year PRSUs, significant option usage, ownership and clawback policies) support pay-for-performance and retention for senior leaders like Wyss, though individual grant data for him is undisclosed .
- Selling pressure: With substantial unrecognized stock comp set to vest over ~1.7 years company‑wide, periodic executive sales are likely; absence of a disclosed 10b5‑1 plan for Wyss in Q3 2025 tempers near-term plan-driven selling visibility for him specifically .
- Execution risk: Success hinges on sustained AI integration into products and ROI from R&D. Recent margin and cash flow improvements provide a constructive backdrop for AI-led initiatives under Wyss’s engineering leadership .